The rupee fell to a 5-month low of 61.41 against the dollar, following escalating tensions between Ukraine and Russia. A sharp fall in Asian and European equities further boosted demand for the dollar.
This week the rupee had shown some signs of recovery after dropping to a 3-month low last week. Dealers say that global worries could weigh on the rupee, especially an interest rate hike in the US. The rupee had recovered sharply from the low seen in August last year of 68.86 against the dollar. In fact, the currency is now the best performing currency in Asia. Check currency rates here
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